The next big test of precision medicine ...

… will come from Loxo Oncology, which just won FDA approval for a drug that targets cancer anywhere in the body, so long as it bears a certain genetic signature.

The drug, larotrectinib, marks an advance in precision medicine, as it’s the first treatment developed as a tumor-agnostic cancer therapy, according to the FDA. But the more interesting story will be whether Loxo can find enough amenable patients to turn it into a commercial success.

The company will need to convince oncologists to order tumor tests that can cost about $5,000, and someone will need to persuade insurers to cover them.

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